Most prop firms pay in US dollars. Where you receive them decides how much you lose converting to pounds.
Options
- A USD account with a UK bank or money app, converting when the rate suits you.
- Wise, which usually converts close to the mid-market rate.
- Crypto payouts sold for pounds on an FCA-registered crypto exchange.
- A direct SWIFT transfer to your UK account, often the most expensive.
Compare the real cost
Check the rate you get against the mid-market rate. A 2% margin on £20,000 of annual payouts is £400.
Records
Keep statements showing the dollar amount received and the pounds credited. See converting payouts for HMRC.
Prop firms we currently recommend
-
1
FundedNext Best for MetaTrader users
- Max account
- $200,000 (up to $4M through scaling)
- Profit split
- 80%, up to 95%
- Fee from
- $59.99 USD (confirm at checkout)
- Our rating
- 4.4 out of 5
-
2
SabioTrade Best for learning while you evaluate
- Max account
- $1,000,000
- Profit split
- 80–90%
- Fee from
- $139 USD (confirm at checkout)
- Our rating
- 4.0 out of 5
FAQ
How do UK traders receive prop firm payouts?
Usually in US dollars via Wise, Rise, crypto or bank transfer.
What's the cheapest way to convert to pounds?
Services like Wise are usually cheaper than a bank’s SWIFT margin.
Should I keep a USD account?
It lets you choose when to convert, which some traders prefer.